Bethlehem, Pa – February 2, 2012 - Adaptik Corporation – the developer of PolicyWriter, the leading configurable P&C policy administration solution available today – has launched a blog on its website, www.adaptik.com. Featuring pieces from Adaptik’s knowledgeable staff, including President and CEO John Pettit, Adaptik’s blog is a must-read for policy administration professionals.

Recurring features on the blog include John Pettit’s “Seven Deadly Sins of Policy Administration,” Tamer Uluakar’s “12 Characteristics of an Adaptive Policy Administration System” and Laura Ford’s “Overcoming Top Barriers to Replacing Legacy Policy Admin Systems.”

“We are happy to share our experience and expertise in the P&C policy administration space,” said Laura Ford, VP of Product Management. “At Adaptik, we pride ourselves in being leaders in the insurance software development industry. This blog provides us the opportunity to be active in the conversation on the web and create a forum where we can discuss ideas, pain points and revelations. We have worked diligently to build a best-in-class policy administration solution and we look forward to sharing our on-going journey with the members of the P&C insurance community.”

The blog is updated regularly at www.adaptik.com. Links to posts also appear on Adaptik’s Twitter page, @Adaptik.

About Adaptik Corporation

Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market for new products and scale to support large numbers of users and high transaction volumes. Adaptik provides P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance. For additional information on how PolicyWriter can help transform your business visit www.adaptik.com.

Like policy processing, the creation of a back-end policy administration system is not linear. The worst thing a carrier can do when scoping a policy admin replacement project is divide it up into dozens of small pieces, work each to completion, then try to fit them together.

This traditional approach to complex problem solving is not the right approach when it comes to building the technology to support policy administration. The requirements are simply too interrelated for this approach to work; it often leads to gaps or rigidity in the solution.

The traditional development system often results in an inefficient or awkward data capture workflow, falling well short of user expectations and the business case.

Because of the often extreme operational demands found in policy administration, products, functions and features must be rationalized in multiple contexts, taking into account subtle nuances to ensure they work with other aspects of the system.

Let’s take the example of implementing a new product. Often, there are two project teams, one creating the product definition and the other creating the user interface. The product work is done first, and requirements are typically passed on to the UI team with little interaction. This traditional development system often results in an inefficient or awkward data capture workflow, falling well short of user expectations and the business case.

That’s why Adaptik’s PolicyWriter suite was architected with iterative, agile processes at its core, allowing users to interact with the policy administration system as they define the requirements. This allows subtle refinements to be incorporated as the system is built, rather than at a more costly time down the line.

It’s flexibility. Defined.

 What Makes a System Truly Adaptive?

When evaluating potential new policy administration systems, functional and technical fit are the two standard criteria. However, a third criteria—adaptability—is arguably even more important. Adaptability indicates how easily (and cost effectively) the system will support business and technical requirements that aren’t yet known. The following characteristics will help you determine whether a system is sufficiently adaptable.

1. Flexible Data Architecture

When adding or changing a data element, adaptive systems avoid the need for programming by decoupling the data schemas for information content and physical storage. New data items are introduced and related to other data items through a configuration facility within minutes, without the need for programming or database changes.

2. Adaptable Functionality and Appearance

Adaptive systems allow users to change the placement and properties of elements on each web page with configuration and drag-and-drop screen layout tools. Configurable elements include web page navigation, available commands and the points at which procedures such as assessment of underwriting rules and rating are automatically triggered.

3. Adaptable Product Composition

An adaptive system’s user tools should make it easy to add new and remove existing insurance offerings, including both package and mono-line products, without database or programming changes.

4. Adaptable Reference Information

Policy administration systems make considerable use of information about reference entities such as countries, states, counties, territories and writing companies. Adaptive systems should be able to access such information in corporate databases and provide the means to define new reference entities that can be added, removed and related to one another easily through configuration.

5. Dependencies

An essential feature of adaptive systems is the ability to configure each system element conditionally using dependencies. In other words, it must be possible to alter the appearance, properties, behavior and business logic based on user authority or the values of one or more data elements.

6. Variations

Most rules-based systems need considerable complexity to accommodate both standard situations and exceptions. Adaptive systems provide an intuitive configuration user interface to manage the rule variations for a set of factors and manage the complexity behind the scenes.

7. Configuration Sharing

Insurance products often have overlapping parts. For example, “inland marine” may be offered as a mono-line product and also included in a package product. Adaptive systems provide effective configuration sharing among products with common characteristics, while allowing such products to be configured differently as needed.

8. Configuration Versioning

Because insurance policies are legal contracts, each policy is tied to the particular version of the rules that coincides with its effective or processing date. Adaptive policy administration systems are able to keep past, present and future versions of the rules and automatically determine when to enforce the appropriate version.

9. Rule Reapplication

Frequently, a change to specific policy data , e.g policy effective date, can cause policy data to become inconsistent with the associated product definition. Adaptive systems automatically detect these cases and make the necessary adjustments without requiring the users to reenter data.

10. Out-of-Sequence Transactions

With their meta-data foundations and the ability to reapply rules, adaptive policy administration systems are uniquely positioned to process out-of-sequence transactions automatically, without limitations, and without requiring programming changes—even when multiple sets of product rules are involved.

11. Adaptable Interfaces

Adaptive systems interact with external modules precisely when they are needed without the need to reprogram the system. They also conform to open standards (e.g., ACORD), integrate with third-party data sources (address validation, driving records), and readily accept data from external systems.

12. Rule Engine Integration

Adaptive systems enable insurers to pick and choose rules engines and easily meld them into one seamless and configurable solution. For example, an adaptive system should be able to seamlessly utilize a customer’s proprietary forms selection engine alongside an underwriting engine from one vendor and a rating engine from another without any difficulty.

Check back each month for an in depth explanation on each of the adaptive features.

Companies from across the state entered the two-part process to determine the 100 Best Places to Work in PA. This included an evaluation of each company’s workplace policies, practices, philosophies, systems and demographics and an employee survey. Best Companies Group managed the overall registration and survey process.

“We are honored to be named one of the best places to work in Pennsylvania for the second year in a row,” said John Pettit, President and CEO of Adaptik Corporation. “This recognition emphasizes the importance we place on our employees and providing them with the best possible working environment to cultivate innovation, teamwork and success. Without the dedication of our employees we would not be here today.”

Founded by John Pettit and Tamer Uluakar in 2000, Adaptik Corporation now has over 50 employees. In the last decade, Adaptik has established itself as the providers of next generation policy administration solutions for P&C carriers.

In addition to this prestigious award, Adaptik has also been recognized by Deloitte and the Red Herring as one of the Fastest Growing Companies in North America.

About Adaptik Corporation

Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market, drive operational agility and scale to support large numbers of users and high transaction volumes. Adaptik is dedicated to providing P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance. For additional information on how PolicyWriter can help transform your business or to watch a brief demonstration please visit http://adaptik.com.

It is important from the very beginning of the project that everyone knows the business goals – but it is even more important that everyone understands them. Our cross-functional team, including members with experience in underwriting, insurance company operations and agency operations, gives Adaptik the business context to understand what you are trying to achieve and – make sure those goals don’t get lost or subverted along the way.

When it comes to requirement gathering, we certainly want to understand what the requirements are. But for the best results, we also want to understand the “why” behind them. After all, it can be too easy for the “what” to get misinterpreted without the proper understanding of “why.”

Policy administration systems change over time as the business changes, and we want to make sure you are positioned to take advantage of those changes – whether it is introducing new products, taking advantage of different distribution channels or entering new markets. Adaptik’s business experts can help you prepare for today and tomorrow, minimizing the risks when implementing a new policy administration solution.

COUNTRY conducted a thorough search for a policy administration platform that would provide flexibility to support its growth objectives, as well as, achieve greater efficiencies in terms of time to market and lower maintenance costs. Key required features for COUNTRY included:

• A common intuitive system to support all of its personal lines
• Straight through processing throughout the life cycle of the policy
• Real-time transactional processing
• Single-step out-of-sequence transaction processing
• Pre- integration with leading rating and billing solutions

“We evaluated several vendors in the P&C policy administration space. It was important for us to select a company that provided not only top-notch software but would also be a true business partner over the life of our implementation,” said Alan Reiss, Senior Vice President of Service Operations of COUNTRY Financial. “Throughout the review process, we were impressed with PolicyWriter’s configurability, depth and breadth of policy administration functionality included in the solution and the knowledgeable Adaptik team. Adaptik has built the next generation of policy administration solutions and we look forward to continuing working with them.”

PolicyWriter will enable COUNTRY Financial to not only match, but significantly exceed, current business functionality by:

• Leveraging a single platform to support its financial representatives and internal users across all lines of business
• Rapidly responding to market demands for new or refined products as well as regulatory changes
• Realizing operational agility through automation and rules-based straight-through processing
• Easily incorporating data from 3rd parties and other COUNTRY systems through configured web services, and
• Reducing short and long term maintenance costs over the life of the system

“We are very proud that COUNTRY Financial has selected the PolicyWriter suite to modernize their policy processing,” said John Pettit, President and CEO of Adaptik Corporation. “COUNTRY conducted a very extensive vendor search and proof of concept, focusing on solving their toughest policy administration challenges. They thoroughly vetted PolicyWriter and tested our teams’ skill and knowledge. In the end, they confirmed for us that adaptive policy administration is what the market demands. COUNTRY Financial’s progressive attitude and commitment to ongoing success makes them a great fit for PolicyWriter. We look forward to partnering with them on this foundational project that will have long-reaching positive impact on their business.”

About PolicyWriter

PolicyWriter is an adaptive policy administration suite conceived specifically for Personal, Commercial, Specialty and Worker’s Compensation insurance carriers. It leverages modern, open technologies and rule-based configuration to drive business agility and lower total cost of ownership. The PolicyWriter suite includes a distinct, yet fully integrated, set of applications: PolicyWriter Product Designer, PolicyWriter Account Manager, PolicyWriter Task Manager and PolicyWriter Customer Manager. These components work together to provide a flexible and scalable product development, core policy administration processing, task management and customer management solutions. With PolicyWriter, customers can expect to go beyond policy administration replacement to true policy administration modernization.

About COUNTRY Financial

COUNTRY Financial (www.COUNTRYfinancial.com), serves more than one million households and businesses throughout the United States. Founded in 1925, COUNTRY has more than 2,000 financial representatives in 14 Midwestern and Western states who help families build a financially secure future, no matter where they’re starting from. COUNTRY offers a full range of financial products and services, including auto, home, life and long term care insurance, annuities, mutual funds and college savings plans.

About Adaptik Corporation

Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market, drive operational agility and scale to support large numbers of users and high transaction volumes. Adaptik is dedicated to providing P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance. For additional information on how PolicyWriter can help transform your business or to watch a brief demonstration please visit http://adaptik.com.

Adaptik’s President and CEO, John Pettit, credits Adaptik’s dedicated employees and PolicyWriter’s patented technology with the company’s 157% revenue growth.

“This is a unique award; not only does Deloitte look at the revenue growth of the companies, but to be eligible all companies must own proprietary intellectual property or technology. From the beginning, we believed that PolicyWriter’s capabilities were unprecedented and we proceeded accordingly by applying for and receiving patents for our technologies. To be awarded for our revenue growth and our technology is gratifying. I share this award with our dedicated employees and congratulate the other 499 winners ranked,” said John Pettit, President and CEO of Adaptik Corporation.

“We are pleased to honor Adaptik Corporation as a 2011 Technology Fast 500 company,” said Mark Jensen, managing partner, technology and venture capital services, Deloitte & Touche LLP. “As one of the fastest growing tech companies in North America, Adaptik has demonstrated excellence in technological innovation, entrepreneurship and rapid growth.”

Adaptik previously ranked 376 as a Technology Fast 500™ award winner for 2010, 200 for 2009 and ranked 260 for 2008.

To find out more on the Deloitte Technology Fast 500 and eligibility requirements please visit: http://www.deloitte.com/us/fast500/

About Adaptik Corporation

Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market for new products and scale to support large numbers of users and high transaction volumes. Adaptik provides P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance. For additional information on how PolicyWriter can help transform your business or to watch a short demonstration please visit http://adaptik.com

Adaptik’s President and CEO, John Pettit, credits employee dedication and PolicyWriter’s award winning and patented technology with the company’s 157% revenue growth.

“We are proud to be recognized as one of the fastest growing companies in the Greater Philadelphia Region and congratulate the other 49 award recipients on their success,” said John Pettit, President and CEO of Adaptik Corporation. “This award is a true testament to the dedication of our employees and PolicyWriter’s ability to meet and exceed the needs of personal, commercial, specialty and worker’s compensation insurers.”

“Adaptik Corporation, like all 2011 Greater Philadelphia Fast 50 companies, have excelled in fostering innovation and channeling it into spectacular growth — against the backdrop of one of the most a challenging economies in history,” said Tara L. Weiner, managing partner, Greater Philadelphia region, Deloitte LLP. “Deloitte recognizes Adaptik for its remarkable accomplishment.”

Adaptik previously ranked 16 as a Greater Philadelphia Fast 50 award winner for 2010, 9 for 2009 and 11 for 2008.

For details on the 2011 Greater Philadelphia Fast 50 including selection and qualifying criteria, visit http: www.deloitte.com/us/phillyfast50

About Adaptik Corporation

Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market for new products and scale to support large numbers of users and high transaction volumes. Adaptik provides P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance. For additional information on how PolicyWriter can help transform your business or to watch a short demonstration please visit http://www.adaptik.com/.

“We are happy to be sponsoring the CIO Insurance Summit,” said John Pettit, President and CEO of Adaptik Corporation. “This summit is a wonderful opportunity to get industry leaders together and have an open dialogue about the pressures and problems affecting insurance carriers today. We look forward to meeting the delegates in attendance and gaining a better understanding of their policy administration needs.”

On Monday, October 17th Adaptik will be hosting a CIO/CTO Roundtable on The 7 Deadly Sins of Policy Administration which focuses on the challenges and pitfalls of replacing a policy administration solution.

“From working with configurable systems over the last 15 years, we have identified 7 specific sins that policy administration replacement projects utilizing configurable solutions have committed, ultimately causing the projects to fall short of meeting project objectives. During our roundtable with the delegates, we will review and discuss these pitfalls and what carriers can do to ensure a successful implementation,” said Laura Ford, Vice President of Product Management at Adaptik Corporation.

Both John Pettit and Laura Ford will be in attendance to discuss and present The 7 Deadly Sins of Policy Administration. To find out more on the CIO Insurance Summit please visit www.cioinsurancesummit.com.

About Adaptik Corporation

Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market for new products and scale to support large numbers of users and high transaction volumes. They provide P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance. For additional information on how PolicyWriter can help transform your business visit Adaptik.com.

“In today’s ever-changing market, carriers demand modern, rules-based, enterprise-wide solutions with the functional depth required to service the complexity of their operations,” said John Pettit, President and CEO of Adaptik Corporation. “We integrated PolicyWriter with MajescoMastek’s STG Billing to provide an alternative to P&C insurance carriers struggling with the best- of-breed versus an all-in-one policy administration offering. By pre-integrating our solutions we are providing carriers with functionally rich, modern and scalable components supported by a predictable integration model.”

“We are happy to partner with Adaptik with our billing solution to tap its customers with best-of-breed PAS and Billing replacement needs,” said Anil Chitale, P&C Insurance Practice Leader at MajescoMastek. “Our SOA and open technology based billing solution lends itself very well for best of breed integration with multiple policy administration vendors. Customers implementing the Adaptik policy administration solution can benefit from the mature capabilities in billing and collections that are now available as a result of this integration.”

Adaptik’s PolicyWriter will be delivered out-of-the-box with an Adapter to STG Billing which can be expanded through configuration on an as needed basis. With Adaptik’s predictable and streamlined integration process, insurance carriers can expect improved speed-to- market and a reduction in implementation costs and risk. Both Adaptik and MajescoMastek will maintain the connection between the two solutions as they release new versions of their respective solutions.

About Adaptik Corporation

Adaptik, the creator of PolicyWriter, develops highly adaptive policy administration software solutions that are designed to improve speed-to-market for new products and scale to support large numbers of users and high transaction volumes. Adaptik provides P&C insurers with advanced business functionality while substantially lowering the risks and costs associated with policy administration system replacement and maintenance. For additional information on how PolicyWriter can help transform your business or to watch a short demonstration please visit http://adaptik.com.

About MajescoMastek

MajescoMastek is a global provider of innovative technology solutions focused on Property and Casualty carriers, Life & Annuity carriers and Capital Market firms. MajescoMastek uniquely combines its wide intellectual property base, domain expertise, mission-critical program management abilities and complex solutions capabilities to help insurance carriers unlock business value.

MajescoMastek delivers proven solutions in core insurance areas including billing, policy administration, new business processing, incentive compensation, producer lifecycle management, and claims. For more information, please visit us on the Web at www.majescomastek.com.